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Asia-Pacific News China

  • LONDON, Oct 24- European shares inched higher on Wednesday, steadying after the previous session's sharp sell-off, as encouraging data out of China offset downbeat German economic numbers and earnings worries.

  • MIDLAND, Mich.-- Shares of Dow Chemical jumped 6 percent in premarket trading Wednesday after the company announced significant restructuring plans.

  • BEIJING, Oct 24- China will seek to encourage more private investment in its state-dominated energy sector, according to a new industry white paper published by official news agency Xinhua on Wednesday.

  • *Coming Up: EIA data 1430 GMT, Federal Reserve policy decision 1815 GMT. SINGAPORE, Oct 24- Oil rose on Wednesday, snapping a six-day losing streak, after economic data from China suggested a gradual recovery in the world's No. 2 oil consumer, though weak European data kept the gain slim. Brent crude was up 63 cents at $108.88 a barrel by 0855 GMT.

  • MELBOURNE, Oct 24- Deutsche Bank has built a 5.2 percent stake in Australian takeover target GrainCorp in recent months, a move that could pay off handsomely as the target's shares have soared and could climb even higher if rival bids appear.

  • HONG KONG, Oct 24- Hong Kong shares posted a fresh 2012 closing high on Wednesday, buoyed by expectations of more capital inflows into the territory after its de facto central bank moved to weaken the Hong Kong dollar for the fourth time in less than a week.

  • *STR20 transacted at $2.93- $3.04, RSS at $3.15- $3.20/ kg. SINGAPORE, Oct 24- Tyre grades changed hands in a series of overnight deals but many buyers from top consumer China stayed away, waiting for prices to fall further on lingering worries about the health of the global economy, dealers said on Wednesday.

  • Aussie Jumps, Euro Lifts, Korea Cuts

    The euro zone is in slowdown and Singapore steps in — it's time for your FX Fix.

  • COPENHAGEN, Denmark-- Debt-ridden Spain and Italy could hinder the European Union from achieving its goal of cutting greenhouse emissions under an international climate pact, the EU's environmental agency said Wednesday.

  • TOKYO, Oct 24- Japan's Nikkei share average snapped a seven-session winning streak on Wednesday as poor U.S. earnings prompted investors to pocket gains on export-focused firms, although better-than-expected Chinese manufacturing data helped limit losses.

  • BEIJING, Oct 24- China's economy is making a slow, steady recovery from its weakest period of growth in three years, a survey of purchasing managers signalled on Wednesday, with new orders and output at their highest in months.

  • *Yuan eases slightly to 6.2510/ dollar. *Traders wary of hitting strong side of trading band. SHANGHAI, Oct 24- China's yuan eased on Wednesday, responding to a slightly weaker central bank midpoint, but still hovered near recent record levels, as traders say corporate yuan demand remains robust.

  • Asian shares were unable to hold onto gains on Wednesday, as investors stayed risk averse due to weak corporate earnings results worldwide and enduring worries over economic slowdown.

  • China Urban Population Set to Explode — How to Play It?

    As China steers its economy away from a dependence on exports towards domestic consumption, its booming urban population will play a major role in driving growth in the world’s second largest economy.

  • FRANKFURT, Germany-- German automaker Volkswagen AG says net profit rose 58 percent in the third quarter because of an accounting boost from its takeover of Porsche. Volkswagen said it was sticking to its earnings forecast despite what it called "growing headwinds" in the business environment.

  • HONG KONG, Oct 24- Mainland Chinese shares rose on Wednesday, outperforming most Asian peers and lifting the Hong Kong market to just short of a year-high after a survey of purchasing managers showed China's economy making a steady recovery. The China Enterprises Index of the top Chinese listings in Hong Kong was down 0.4 percent.

  • *Vegas less powerful in casino world after Macau boom. With no full-time staff in Asia and a mission that includes nurturing an industry increasingly dependent on China- controlled Macau, the granddaddy of U.S. gambling regulators may ultimately prove powerless to police a global business of which Las Vegas is no longer the capital, industry veterans said.

  • MELBOURNE, Oct 24- Deutsche Bank has built a 5.2 percent stake in Australian takeover target GrainCorp in recent months, a move that could pay off handsomely as the target's shares have soared and could climb even higher if rival bids appear.

  • BEIJING, Oct 24- China's economy is making a slow, steady recovery from its weakest period of growth in three years, a survey of purchasing managers signalled on Thursday, with new orders and output at their highest in months.

  • *Gree and DeNa up after Facebook surprises with mobile revenue. Japanese social gaming sites DeNa and Gree also gained in heavy trade after Facebook Inc said mobile advertising revenue had roughly tripled in the third quarter, reassuring investors who had feared revenues of web-based firms would be hit by the shift to smartphones from personal computers.